News Centre

New Zealand Financial Markets Authority: Former Financial Adviser Pleads Guilty To Dishonesty Offences

Date 01/11/2023

The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – charged a former financial adviser with multiple dishonesty offences following an investigation into her conduct. 

Cancelled — CFTC Open Commission Meeting For November 1

Date 31/10/2023

The Commodity Futures Trading Commission Open Meeting scheduled for Wednesday, November 1, 2023 has been cancelled. The matter under consideration is being handled through the Commission’s seriatim process.

Statement Of CFTC Commissioner Christy Goldsmith Romero In Support Of The CFTC’s 2023 Annual Report On The Whistleblower Program And Customer Education Initiatives

Date 31/10/2023

As a former Inspector General who knows firsthand how important whistleblowers are, I wholeheartedly support whistleblowers and the CFTC’s Whistleblower Program, and am very proud of the Program’s outsized results.  Cumulatively, the CFTC has awarded almost $350 million to whistleblowers, with more than $3 billion in enforcement sanctions ordered in cases associated with those awards.  This includes $16 million in awards this year, including more than $15 million to two whistleblowers who provided significant information and assistance that led the CFTC to bring separate successful enforcement cases.

FINRA Announces Departure Of Enforcement Deputy Head Christopher Kelly

Date 31/10/2023

FINRA announced today that after nine years in the Department of Enforcement, Christopher Kelly plans to leave FINRA on Nov. 1 to pursue other opportunities. In his most recent role of Senior Vice President and Deputy Head of Enforcement, Kelly oversaw the work of FINRA’s Enforcement attorneys throughout the country as well as Enforcement’s Litigation Group.

SEC Charges Four Long Island Men With Perpetrating $2 Million “Free-Riding” Scheme

Date 31/10/2023

The Securities and Exchange Commission today announced fraud charges against Eduardo Hernandez, Christopher Flagg, Daquan Lloyd, and Corey Ortiz, all currently or formerly of Long Island, New York, for perpetrating a multi-year “free-riding” scheme that generated more than $2 million in illicit profits.

SIFMA Statement On DOL Rule On Retirement Savings Advice

Date 31/10/2023

SIFMA issued the following statement from president and CEO Kenneth E. Bentsen, Jr. regarding a release today from the Department of Labor (DOL) related to retirement savings advice:

“Since the Department of Labor (DOL) first proposed a change to the definition of fiduciary, the landscape has changed greatly, most notably with the introduction of the Regulation Best Interest (Reg BI). Reg BI implemented a best interest standard that did not exist at the time of the 2015 DOL re-proposal and foundationally improved the protections in place for retirement savers. SIFMA long supported a best interest standard of care for brokers. That standard is now in place – it is robust and expansive with significant duties and obligations imposed on broker-dealers that unquestionably enhances investor protection. Upon initial review, we are concerned that the Department’s newest proposal may go too far, inconsistent with existing federal regulations such as Reg BI and as a result could limit access to advice and education while also limiting investor choice in advisors.”

Nadex Self-Certifies SHIB Cryptocurrency Touch Bracket Contracts

Date 31/10/2023

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Section 40.2(a) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”), Nadex self-certified the terms and conditions for its new SHIB Cryptocurrency Touch Bracket Contracts. These contracts will be listed on or after trade date November 3, 2023.

Ontario Securities Commission Launches Investing Academy During Financial Literacy Month

Date 31/10/2023

The Ontario Securities Commission (OSC) today announced a new interactive feature on its recently relaunched Get Smarter About Money investor education website and its programming for Financial Literacy Month.

Canadian Securities Administrators: Don’t Be “Finfluenced” When Making Investment Decisions

Date 31/10/2023

In recognition of Investor Education Month in October and Financial Literacy Month in November, the Canadian Securities Administrators (CSA) is encouraging all Canadians to prioritize their financial well-being and verify their sources of investment information.

SwapsInfo Third Quarter Of 2023 And Year-To-September 30, 2023 Review

Date 31/10/2023

The latest ISDA SwapsInfo Quarterly Review shows that interest rate derivatives (IRD) traded notional and trade count increased in the third quarter of 2023 compared to the third quarter of 2022, while index credit derivatives trading activity declined over the same period.